Jinko Power's convertible bonds may trigger price adjustment

Jinko Power Technology (SSE:601778) announced that its "Jinko Convertible Bonds" might trigger conditions for a downward adjustment of the conversion price. The bonds, issued on April 23, 2021, with a total value of CNY 3 billion, have a current conversion price of CNY 5.24 per share. According to the terms outlined in the offering documents, if Jinko Power's stock price falls below 90% of the current conversion price for at least 15 out of 30 consecutive trading days, the board of directors has the right to propose a downward revision of the conversion price. As of April 15, 2025, the company's stock closing price has already been below 90% of the conversion price (CNY 4.72) for ten trading days. The company will convene a board meeting to decide whether to adjust the conversion price should the trigger conditions be met.